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7 Impacts and Vulnerabilities IPCC TAR 2001 Findings Average rainfall in Australia will decrease and water resources will be stressed Some agricultural production may initially benefit, but this benefit will disappear over time Tropical vector borne diseases will spread south Tourism will be affected by sea rises, ocean warming and snow cover reduction Insurance industry will factor in weather related risk

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10 UNFCCC & Kyoto Protocol How targets can be met: 1. Reductions in emissions in own country 2. Sequestration from sinks 3. International emissions trading (IET) 4. Joint Implementation projects with another country which has a target (JI) 5. Projects within a developing country (CDM)

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13 Government Response Overview $ 1 Billion over Five Years Safeguarding the Future: Prime Minister’s $ 180 million 5 year package of November 1997 (25 programs, including establishment of the AGO, the world’s first dedicated greenhouse agency) Measures for a Better Environment: $796 million additional funding over 4 years announced in May 1999 in conjunction with the New Tax System, including the $400 million GGAP

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16 Outcomes from COP 6 Bonn Agreement on implementation issues under the Protocol and the Convention, including: assistance to developing countries in adaptation and technology transfer a compliance package the operation of the market mechanisms inclusion of sinks

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17 International agenda - what next? Finish “translating” Bonn agreement into the detailed rules needed for implementing the Protocol (COP 7 in Marrakech) Resolution of outstanding ratification issues for Australia, e.g. pathway towards participation by all major emitters Response to any alternative proposals by the United States

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18 The Australian Greenhouse Office is the lead Commonwealth agency on greenhouse matters www.greenhouse.gov.au